long-term debt

Definition

Loans and obligations with a maturity of longer than one year; usually accompanied by interest payments. also called funded debt.

Use long-term debt in a sentence

Mortgages financed for more than a year and automobile loans of more than 12 months are examples of long-term debt.

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We had a lot of long-term debt to pay off and it made all of us really happy in our company, because we knew we would do it.

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On signing day, the Henderson's were excited about their new home, yet nervous about the addition of another long-term debt to their repertoire of bills.

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